Bill > S3941

This bill, also known as the Municipal Investment and Neighborhood Transformation Act or the MINT Act, aims to restore the tax-exempt status of certain State and local bonds that are guaranteed by a Federal Home Loan Bank. Specifically, it amends the Internal Revenue Code of 1986 to remove a previous restriction that limited this tax-exempt treatment to guarantees made before December 31, 2010, and also updates the safety and soundness requirements for these guarantees to be set by the Director of the Federal Housing Finance Agency. This change is intended to allow these bonds, which are typically issued by state and local governments to fund public projects, to continue to be considered not federally guaranteed for tax purposes when backed by a Federal Home Loan Bank, thereby preserving their attractiveness to investors and facilitating local infrastructure and community development.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/3941/all-info